Legal Question in Landlord & Tenant Law in Nebraska
selling leased land
I currently am renting farm land and the owner has informed me he is selling 20 acres of it for housing development. There is a total of 60 acres in the piece of land. Can he sell this land which is under a signed lease agreement. Or must he pay compensation for the land he is selling that is leased for example, there are 2 years left on the lease. The 20 acres he intends to sell is cash rented at $105 per tillable acre and I pay him anually. Must he buy out those 2 years for the 20 acres he wants to sell. Thank you for this service, I hope this is plenty of info to answer my Question
1 Answer from Attorneys
Re: selling leased land
When land is sold it is sold subject to any existing leases.
The question might be if the lease is written, any rights to termiante the lease and other factors outside of the question that was asked.
However, the mere sale of the land does not affect the lease . . .
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